About this document
General Equilibrium in Used Car Markets by Fabrizio Rodríguez is a document available to read on EtoBox.
This chapter describes a pure exchange economy model with consumers who have endowments and preferences over goods. Consumers maximize utility subject to their budgets. A Walrasian equilibrium consists of prices and an allocation such that consumers optimize and markets clear.
- Author
- Fabrizio Rodríguez
- Language
- EN